World Smart Railways Market to Exceed USD 39.2 Bln by 2018, According to MarketsandMarkets Report Published at MarketPublishers.com

(PR Web Via Acquire Media NewsEdge) London, UK (PRWEB) January 07, 2014
Tens of billions of people and billions of tons of freight are transported annually in the world. At present, fast but also safe and reliable rail services represent one of the primary concerns for many countries worldwide. Aging railway systems as well as the lack of reliability and operational efficiency are the major factors that are bringing changes in the current railway infrastructure. The overall rail industry is struggling to meet the constantly growing demand for passengers and freight transportation due to the inefficient use of rail assets and the lack of optimized use of the existing rail network.

Railway transportation is anticipated to become the preferred transportation model worldwide, supported by such factors as regulatory compliance, intermodal operations, compliance, etc. Passenger comfort, operational efficiency and safety features are likely to be enhanced in the offing by way of the introduction of smart railway solutions, such as smart ticketing system, PIS, rail operations management system, fight information system, advance security monitoring system, rail analytics system, amid others. The global smart railways market is poised to surpass the USD 39.2 billion mark by 2018.